Redington India Announces Q1FY23 Results with Rs 149.85 Cr Income

Redington India has announced its financial results for Q1FY23, which ended on June 30, 2022. It has been a strong quarter for the company with an aggressive performance across all business segments and geographies.

The Q1'23 income of Redington India is Rs 149.85 Cr, increasing from Q4'22 income of Rs 95.59 Cr. Its income of the Quarter'22 ending 31st Mar'22 was Rs 123.46 Cr. Its FY'22 audited income was Rs 935.07 Cr.

“We are very pleased with the results of the first quarter of FY23. While the growth of technology industry is stabilising globally, our execution aligned to the strategic pillars of innovation, technology and partnerships is driving strong, differentiated outcomes. At Redingto Indian we are working towards addressing technology friction – the gap between innovation and adoption – across different sectors by democratizing accessibility and availability of a wide range of technology products, solutions, and services.” said Rajiv Srivastava, Managing Director, Redington.

Redington continues to work closely with its vast network of channel partners to simplify the procurement, supply chain and adoption of technology products for Enterprises, MSMEs, start-ups and consumers in all the 37 markets where it operates. ProConnect – the Logistics Services arm of Redington has been consolidating its position in the marketplace with strong execution in Q1.

In a significant business model shift, Q1FY23 has seen an increased traction for its Digital Platform solutions. Driven by a commitment to help businesses in India adopt Cloud, Redington has entered into a multi-year Strategic Collaboration Agreement (SCA) with Amazon Internet Services Private Limited (AISPL), to offer a range of products and management of Amazon Web Services (AWS) Cloud in India. This engagement will help Redington enhance its cloud capabilities to drive growth in existing markets and expand into Tier 2 and Tier 3 cities through its partners.

In FY’23 the company will continue to focus on enhancing its digital and platform capabilities to improve customer, vendor, and partner experience.

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